Prima Business Control Software Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03634964 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 January 2015

for

Prima Business Control Software Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

S P McLaughlin

A Pathak

SECRETARY:

S P McLaughlin

REGISTERED OFFICE:

Cheshire House

Gorsey Lane

Widnes

Cheshire

WA8 0RP

REGISTERED NUMBER:

03634964 (England and Wales)

ACCOUNTANTS:

Voisey & Co

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

FIXED ASSETS

Intangible fixed assets

2

332,311

288,808

Tangible assets

3

698

1,395

333,009

290,203

CURRENT ASSETS

Debtors

116,797

109,914

Cash at bank and in hand

47,814

47,357

164,611

157,271

CREDITORS

Amounts falling due within one year

144,748

160,670

NET CURRENT ASSETS/(LIABILITIES)

19,863

(3,399

)

TOTAL ASSETS LESS CURRENT LIABILITIES

352,872

286,804

CAPITAL AND RESERVES

Called up share capital

4

18,000

18,000

Share premium

2,250,948

2,250,948

Profit and loss account

(1,916,076

)

(1,982,144

)

SHAREHOLDERS' FUNDS

352,872

286,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 August 2015 and were signed on its behalf by:

S P McLaughlin - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Revenue recognition

Revenue is measured as the fair value of the consideration received or receivable and represents amounts

receivable for goods and services supplied by the company, net of value added tax and trade discounts in the

normal course of business.

Development expenditure

Development expenditure relating to clearly defined projects which are assessed to be commercially viable and

have a certainty to their technical feasibility are capitalised. Development expenditure includes employee's

salaries, employee's benefits and other development consultancy costs.Capitalised expenditure is recorded at cost

less accumulated amortisation and provisions for impairment. Development expenditure is amortised once the

product is released and is calculated by reference to the expected useful life of the product.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

50% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2014

288,808

Additions

60,993

At 31 January 2015

349,801

AMORTISATION

Amortisation for year

17,490

At 31 January 2015

17,490

NET BOOK VALUE

At 31 January 2015

332,311

At 31 January 2014

288,808

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2014

and 31 January 2015

73,432

DEPRECIATION

At 1 February 2014

72,037

Charge for year

697

At 31 January 2015

72,734

NET BOOK VALUE

At 31 January 2015

698

At 31 January 2014

1,395

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.15

31.1.14

value:

£

£

450,000

'A' Ordinary

1p

4,500

4,500

Allotted and issued:

Number:

Class:

Nominal

31.1.15

31.1.14

value:

£

£

1,350,000

Ordinary

1p

13,500

13,500

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2015 and

31 January 2014:

31.1.15

31.1.14

£

£

S P McLaughlin

Balance outstanding at start of year

-

-

Amounts advanced

60,141

-

Amounts repaid

(63,293

)

-

Balance outstanding at end of year

(3,152

)

-

The directors have provided loans to the business during the year to assist the company to meet its day to day

working capital requirements. The balance outstanding at the year end date is included in note 7 of the accounts.

6.	BASIS OF PREPARING THE FINANCIAL STATEMENTS

The accounts have been prepared on a going concern basis and the directors have confirmed their intention to

continue their financial support of the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Prima Business Control Software Limited for the year ended 31 January 2015 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Prima Business Control Software Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Prima Business Control Software Limited and state those matters that we have agreed to state to the Board of Directors of Prima Business Control Software Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Prima Business Control Software Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Prima Business Control Software Limited. You consider that Prima Business Control Software Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Prima Business Control

Software Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the statutory

financial statements.

Voisey & Co

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

8 September 2015